Wednesday, July 21, 2010

Don't Just Sit There Being Unemployed - Ask Your Bank For A Loan

George the Progressively Osborne and his pet Liberal Democrat (Nick who?) are going to spell out the dangers of the double-dip recession which they have done their best to precipitate. The Government is worried because banks are not lending money to businesses. The banks are not lending money to businesses because businesses are not asking the banks for loans. Businesses are not asking the banks for loans because they expect the banks to reject their applications or else charge too much. The banks are worried because the money they are not lending is coming to them as an emergency measure from the Bank of England, as the banks do not have enough money of their own to lend having pissed it all away while precipitating the first dip of the double-dip recession of which George the Progressively Osborne and his pet Liberal Democrat (Nick who?) are about to spell out the danger. The Government cannot force the banks to lend money to businesses at regulated rates because that would be a straitjacket on the banks, which are the backbone of our jellyfish prosperity. The Government cannot lend money to businesses on its own account because that would be a straitjacket on British entrepreneurialitude, and anyway businesses don't borrow from the Government when the Private Finance Initiative means they can have money thrown at them with no obligation to pay it back, or even to provide a proper service in exchange. "We have to acknowledge there is an issue," said George the Progressively Osborne's pet Liberal Democrat (Nick who?) as he prepared to do nothing much about it.